The global HER2 antibodies exhibits market an intensely competitive landscape due to the presence of a large number of market players. The market players have been making ardent efforts to ensure that the customers trust their products. The presence of a large number of established players has been contributing to the level of competition within the market. It is expected that the medium-sized players would challenge the strong position of the large players by forming strategic alliances. Furthermore, it is imperative for the medium players to retain their existential consumer base by staying true to the market. The small scale players occupy a meagre share of the global market for HER 2 antibodies but their growth over the past years has seen a positive trajectory. It is anticipated that the leading market players would aim at acquiring the small and defunct players in order to expand their geographical presence. Furthermore, there are no barriers to the entry of new players in the market which is expected to clutter the market over the forthcoming years. Some of the key players identified by Transparency Market Research (TMR) include Pfizer, Inc., Genentech Inc. by F. Hoffmann-La Roche Ltd., Novartis AG, Bio-Techne by Novus Biologicals, and Abnova Corporation.
Transparency Market Research (TMR) analyzed the global market for HER2 antibodies to find that the CAGR for the global market during the period between 2017 and 2025 is expected to settle at 8.60%. Furthermore, the market was valued at US$10,087.8 mn in 2016 and is expected to elevate to a stellar value of US$21,669.1 mn by 2025-end.
High Incidence of Breast Cancer to Drive Demand
Statistics show the incidence of breast cancer has increased by leaps and bounds over the past decade. There are around 200 types of cancers according to the world health organization (WHO), and breast cancer is amongst the most common ones. The prevalence of various types of cancers has persuaded the pharmaceutical companies to engage in core research and development to come up with novel therapeutics. Hence, the demand within the global market for HER2 antibodies has been escalating in recent times. It is not possible to ascertain a single reason for breast cancer, but some of the factors associated with the high incidence of the disease include obesity, alcohol consumption, late pregnancy, and early-age menstruation. Despite the stellar rate of market growth, the low awareness levels of the masses in the third world countries could hamper market growth.
Advancements in Immunotherapy to Expand Market
A number of associations for cancer treatment have emerged on the global healthcare landscape. This has led to increasing awareness about the treatment and prevention of breast cancer, which has in turn contributed to the growth of the global HER2 antibodies market. Pipeline drugs offer hope for cancer patients, and hence, the healthcare industry has been relying on these drugs to improve the field of oncology. Furthermore, lifestyle changes including increased consumption of alcohol and incessant cigarette smoking has also been a driver of demand within the global HER 2 antibodies market.